Story is going live across the media that the UK and Hungary have rejected the proposed EU treaty and that the Czech Republic and Sweden must
seek governmental approval from their respective parliaments.

The British would not acquiesce to the desires of the French and Germans to implement strict financial regulations across the Eurozone, David Cameron
the UK prime minister refused to accept that Britain would benefit from the proposed agreement and refused to be a part of it.

Eurozone countries are to go it alone with an intergovernmental deal between themselves after Britain blocked changes to the Lisbon treaty aimed
at saving the currency.
After a marathon overnight meeting in Brussels the president of the European council, Herman van Rompuy, said the intergovernmental treaty would
include the 17 eurozone states plus six other European Union countries but not all 27 EU members.
The German chancellor, Angela Merkel, praised the plan. "I have always said, the 17 states of the eurogroup have to regain credibility," she said.
"And I believe with today's decisions this can and will be achieved." Van Rompuy said the countries would provide up to €200bn ($268bn) in extra
resources to the International Monetary Fund.
The French president, Nicolas Sarkozy, said early Friday he would have preferred a treaty among all the members of the European Union. But that could
not be achieved, he said, because the British proposed that they be exempted from certain financial regulations. "We could not accept this" because
a lack of sufficient regulation caused the current problems, Sarkozy said.

David Cameron has blocked an EU deal for a crucial treaty change and
now faces virtual isolation as the others forge ahead without the UK. Officials at the summit in Brussels said efforts to alter the treaty governing
all 27 countries had been abandoned.
French President Nicolas Sarkozy said in a news conference that the 17-member eurozone would press on with a separate treaty - likely to be joined by
eight of the 10 remaining non-eurozone states. He said the new treaty should be written by March 2012.
Only the UK and likely Sweden would stay outside the deal, officials suggested, with the British Prime Minister accused of scuppering a full accord
and holding out for concessions to take back to his eurosceptics.
The heads of government and state have gathered in Brussels in an attempt to thrash out a rescue plan. Hours earlier it was reported that they had
agreed on some new principles - and details of the draft under discussion were revealed. Under the new plans, eurozone countries would have new rules
to govern their deficits and be punished if they breach them.
According to a leaked draft, European leaders were said to have reached agreement on a "fiscal compact" for the eurozone, drawn up to save the
embattled currency. David Cameron had insisted on his arrival at the summit that he was prepared to use his veto if necessary to protect British
interests. All the EU's 27 heads of government and state are at the summit billed as the last chance to save the eurozone. Europe's leaders were
hoping to agree new plans to improve financial discipline among the 17 countries which use the single currency. This is seen as essential to lower
borrowing costs for countries like Italy and Greece, which are struggling to fund themselves.

Right, having had ten minutes to process this, I am kind of embarrassed on the onehand to be British. I know over regulation of industry is
predominantly a bad thing, and I know that the headline grabbing 'regulation of financial markets pan Europe' as a single policy is notthe full story
and that the treaty would have effectively been an end to British sovereignty ..... BUT

It is the banks that have foisted this enormous recession on us because they were allowed to self regulate. For Cameron to say that we do not need to
regulate them is wrong. Further by leaving Britain as a lightly regulated Market we maintain an enormous competitive edge over the rest of Europe and
will become THE banking centre of Europe. Only because the bankers will continue to act with impunity.

Therefore I feel David Cameron has really dropped the ball on this. He should have agreed to accept the financial services regulation for the
investment and retail banks only. Surely an Old Etonian cod have managed to negotiate a sub section of the treaty to ensure the best interests of
Europe are covered by pan European consistency on the treatment of bankers and their industry? Or has the Old Etonian protected his mates with a
staggering show of cronyism which IMHO has taken Britain irrevocably out of Europe?

I say he has been irresponsible, a show of unity would have demonstrated to the banking industry that the grVy train has run out of line. All he has
done is built it a big shiny new international terminal.

Franz Ferdinand (18 December 1863 – 28 June 1914) was an Archduke of Austria-Este, Austro-Hungarian and Royal Prince of Hungary and of Bohemia, and
from 1889 until his death, heir presumptive to the Austro-Hungarian throne.[1] His assassination in Sarajevo precipitated Austria-Hungary's
declaration of war against Serbia. This caused the Central Powers (including Germany and Austria-Hungary) and the Allies of World War I (countries
allied with Serbia) to declare war on each other, starting World War I.[2][3][4]

He was born in Graz, Austria, the eldest son of Archduke Karl Ludwig of Austria (younger brother of Franz Joseph and Maximilian) and of his second
wife, Princess Maria Annunciata of Bourbon-Two Sicilies. When he was only twelve years old, his cousin Duke Francis V of Modena died, naming Franz
Ferdinand his heir on condition that he add the name Este to his own. Franz Ferdinand thus became one of the wealthiest men in Austria.

On Sunday, 28 June 1914, at approximately 10:45 am, Franz Ferdinand and his wife were killed in Sarajevo, the capital of the Austro-Hungarian province
of Bosnia and Herzegovina, by Gavrilo Princip, 19 at the time, a member of Young Bosnia and one of a group of assassins organized by the Black
Hand.[4] The event led to a chain of events that eventually triggered World War I.

But the Euro's problems aren't about banking - it is about Governments overspending. Financial services in this proposal were secondary to that.

And since the UK isn't in the Euro anyway there's no real change is there?

As I read it, the UK position was to try to screw a better deal for the UK - giving up a significant amount of financial sovereignty because oher
states screwed up big time would require some quid pro quo

Originally posted by Aloysius the Gaul
But the Euro's problems aren't about banking - it is about Governments overspending. Financial services in this proposal were secondary to that.

And since the UK isn't in the Euro anyway there's no real change is there?

As I read it, the UK position was to try to screw a better deal for the UK - giving up a significant amount of financial sovereignty because oher
states screwed up big time would require some quid pro quo

Does it seem as a coincidence to you that....

Historians have disagreed on how to characterize the political philosophies of Franz Ferdinand, some attributing generally liberal views on the
empire's nationalities while others have emphasized his dynastic centralism, Catholic conservatism, and tendency to clash with other leaders.[9] He
advocated granting greater autonomy to ethnic groups within the Empire and addressing their grievances, especially the Czechs in Bohemia and the
Yugoslavic peoples in Croatia and Bosnia, who had been left out of the Austro-Hungarian compromise of 1867.[17] Yet his feelings towards the
Hungarians were less generous; he regarded Magyar nationalism as a revolutionary threat to the Habsburg dynasty and reportedly became angry when
officers of the 9th Hussars Regiment (which he commanded) spoke Magyar in his presence - despite the fact that it was the official regimental
language.[10] He further regarded the Hungarian branch of the Dual Monarchy's army, the Honvédség, as an unreliable and potentially threatening
force within the empire, complaining at the Hungarians' failure to provide funds for the joint army[18] and opposing the formation of artillery units
within the Hungarian forces.[19]

He also advocated a careful approach towards Serbia - repeatedly locking horns with Franz Conrad von Hötzendorf, Vienna's hard-line Chief of the
General Staff, warning that harsh treatment of Serbia would bring Austria-Hungary into open conflict with Russia, to the ruin of both Empires.

He was disappointed when Austria-Hungary failed to act as a Great Power, such as during the Boxer Rebellion; in 1900 other nations, including, in his
description, "dwarf states like Belgium and Portugal",[20] sent troops to protect Westerners and punish the Chinese, but Austria-Hungary did
not.

Therefore I feel David Cameron has really dropped the ball on this. He should have agreed to accept the financial services regulation for the
investment and retail banks only. Surely an Old Etonian cod have managed to negotiate a sub section of the treaty to ensure the best interests of
Europe are covered by pan European consistency on the treatment of bankers and their industry? Or has the Old Etonian protected his mates with a
staggering show of cronyism which IMHO has taken Britain irrevocably out of Europe?

I say he has been irresponsible, a show of unity would have demonstrated to the banking industry that the grVy train has run out of line. All he has
done is built it a big shiny new international terminal.

edit on 9-12-2011 by spacedonk because: iPhone typing issues

Agreed, as the Prime Minister of Greece of should i say former are indicating to the world that a behind closed door agreement was reached and are now
crossing the t's and dotting the i's. Bulgaria has officially announced the Burgas pipeline from Russia that was to feed central and southern europe
as non viable and will not continue with the agreement. ( at this point we should note that double crossing russia has sealed Bulgaria's fate with the
upcoming shift of physical borders within the Balkan area )

Attempts to get all 27 EU states to back changes to the bloc's treaties to tackle
the eurozone crisis have failed.

Speaking after long talks in Brussels, French President Nicolas Sarkozy said the 17 eurozone states and others would work on a separate pact
instead.

France and Germany are pushing for tough new budgetary rules to be enshrined in the accord.

But UK Prime Minister David Cameron said an EU-wide deal "isn't in Britain's interests".

A decision to press ahead without changing EU treaties does have benefits for the eurozone bloc, because it is likely to be less time-consuming, the
BBC's Andrew Walker in Brussels says.

so the big fall has began say good by EU and to EURO wonder what will happen to all them country's that got
IMF help backed by Euro's ? The next big question is will China step in and say "need loan.. sign doted line... here" The US could not do it unless
they get IMF funding THIS IS A BIG WOW not yelling just big as to get your eyes to this... from the LINK

During the talks, eurozone leaders agreed
on tough new budgetary rules, which envisage automatic penalties.

They also said a ceiling on the size of the eurozone's bailout would be capped at 500bn euros (£427bn; $666bn).

Discussions on fine-tuning of these and other key issues are expected to resume shortly.

Attempts to get all 27 EU states to back changes to the bloc's treaties to tackle
the eurozone crisis have failed.

Speaking after long talks in Brussels, French President Nicolas Sarkozy said the 17 eurozone states and others would work on a separate pact
instead.

France and Germany are pushing for tough new budgetary rules to be enshrined in the accord.

But UK Prime Minister David Cameron said an EU-wide deal "isn't in Britain's interests".

A decision to press ahead without changing EU treaties does have benefits for the eurozone bloc, because it is likely to be less time-consuming, the
BBC's Andrew Walker in Brussels says.

so the big fall has began say good by EU and to EURO wonder what will happen to all them country's that
got IMF help backed by Euro's ? The next big question is will China step in and say "need loan.. sign doted line... here" The US could not do it
unless they get IMF funding

Do not be surprised if the U.S. announces that Greece will be officially introducing the $ as their national currency.

WW1 started with the death of head of state , ww3 might start with a death of a fund? Na were in WW3 USA is a Battlefield now don't you
know?

oh i know, its the rest who are unaware of it, those who choose to use multiple links to distort so called news. Lets face it, the news and how it is
presented is a tool of Propaganda and the way it is presented has been mastered to mobilize millions in a just or unjust cause under the disguise of
peace, justice and the ............ way.

We have that many ties with american banks which relates to 10% of the Uk GDP if our bank were to be regulated a lot of financial institutions would
pull out leaving the UK worse than fellow EU countries.

So in one way he has saved our economy on the other hand the crooks can still operate.

yep kind of reminds me of a bunch of blind folk walking through a hay field , stepping on the up turned hay rakes asking what was that!!! The thing
that really gets me is just how close we are to 2012 , every where you look you see the end is near , the end of freedom in the Us the end of the
Status quo in Egypt Syria Libya the end of the EU and EURO it is not the end just the end of how we knew things were.

To be honest I think this is the best the David Cameron could hope for, he certainly could not come back to the UK and say we support a treaty
that'll cost the UK 10% in GDP, nor could he really start peeing in the pond demanding a repatriation of powers..

But the formation of this new block of powers will be interesting as it'll be outside the EU institutions and as such, will it actually carry the
legal weight to deliver the penalties and punishments Merkel wanted!

and on the other hand since it is a complete block it can vote against Britain thus changing the playing field forcing Cameron to give a
referendum.

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